The following is a statement by National Association of Realtors® President Richard F. Gaylord:
“The National Association of Realtors® is truly relieved that members of the U.S. House of Representatives, like their counterparts in the Senate, were able to come together in a bipartisan effort to pass the Emergency Economic Stability Act of 2008. As we [...]

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading [...]

A massive foreclosure rescue bill cleared a key Senate test Tuesday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
The mortgage aid plan would let the Federal Housing Administration back $300 billion in new, cheaper home loans for an estimated 400,000 distressed borrowers who otherwise would [...]

The Senate Banking Committee is scheduled on Thursday to question President George W. Bush’s nominee to run the Department of Housing and Urban Development.
In mid-April, Bush nominated Steven C. Preston to head the nation’s largest government housing agency and replace Alphonso Jackson who resigned from the post in late March after facing accusations that he [...]

What started out as litigation here is now legislation in Trenton that will limit but also legalize a standard practice of charging an upfront fee to condominium buyers.
The bill, which has passed both chambers of the Legislature and is now on the governor’s desk, will allow condominium associations, only through their master deed or bylaws, [...]

Across California, thousands of mobile home owners are confronting the question of whether to buy their lots. An estimated 30 California parks have begun owner-initiated conversions, and supporters and critics of the process say scores of California’s 4,822 mobile home parks could soon take the same step.
Park owners call the “condo-conversion” process a win-win situation [...]

In San Francisco, those fighting against limits to condo conversions often call tenant rights activists alarmists, claiming the effect of lifting the current cap of 200 conversions per year would be negligible. For proof they’re wrong, one need look no further than a few hundred miles north to Seattle, Washington, where high housing costs and [...]

State lawmakers unveiled legislation Monday that would sharply restrict mobile home park owners who want to convert their parks to resident ownership, a trend that has alarmed local mobile home tenants, who fear rising rents will force them from their homes.
Two parks in Carson face so-called “condo- conversion,” but the trend also has been seen [...]

Remaking itself as it emerges from an accounting scandal, mortgage giant Fannie Mae said Friday it will shut down its high-profile charitable foundation this year and begin disclosing its corporate contributions.
Fannie Mae said it would continue its philanthropy and community improvement work through a new Office of Community and Charitable Giving within the government-sponsored company. [...]

A federal bankruptcy judge on Friday approved the sale of the liberal talk radio network Air America Radio for $4.25 million to Stephen L. Green, founder of a New York real estate firm.
Green and his brother Mark Green — the longtime liberal New York City politician and frequent guest on Air America — plan to [...]

Air America Radio, the liberal news and talk radio network, has won bankruptcy court approval to sell its assets at an auction Friday, starting with a $4.25 million bid from a consortium of purchasers formed by the chairman of SL Green Realty Corp.
Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan on Friday [...]

Novastar Financial Inc. stock dropped to a new 52-week low on Thursday as the market hit subprime mortgage lenders hard.
Shares of Kansas City-based NovaStar traded as low as $17.65 a share, down 14 percent, on Thursday. The stock closed at $18.31, down $2.29, or 11 percent, on volume of 5.2 million shares, according to [...]